Chicago Atlantic and Lineage Merchant Partners Announce Transformative Merger Agreements in the Cannabis Industry
The combined entity (assuming Vireo completes all of the merger transactions) will span seven states, managing approximately 1,043,500 square feet of cultivation and manufacturing space across nine cultivation facilities, and operating 48 retail dispensaries. Supported by Chicago Atlantic, Vireo announced a
A New Vision for the Cannabis Industry
John Mazarakis, co-founder of Chicago Atlantic, has been appointed CEO and Co-Executive Chairman of Vireo.
As CEO, John Mazarakis will lead Vireo in creating the first comprehensive platform for cannabis operators. His mission is to empower operators to build sustainable, profitable businesses while preserving their unique cultures and addressing regulatory and capital challenges.
Mr. Mazarakis commented:
“I am thrilled to lead Vireo as we redefine the cannabis landscape with a decentralized approach that supports local expertise while leveraging shared corporate services. This model enables operators to adapt quickly to consumer behavior and capture incremental market share, creating significant opportunities for growth.”
Mr. Mazarakis brings a wealth of experience in cannabis and business operations. At Chicago Atlantic, he has overseen over
Transaction Overview
Vireo currently has operations in three states,
Positioned for Growth
Together, Chicago Atlantic and Vireo have established a robust platform with an industry-leading balance sheet, strong profitability, and a compelling growth profile positioning it for success in today’s evolving cannabis landscape.
For more information on the merger transaction, read Vireo’s merger announcement.
About Chicago Atlantic
Chicago Atlantic is a private markets alternative investment manager focused on industries and companies where demand for capital exceeds traditional supply. The firm’s investment strategies include opportunistic private credit and equity with focuses on loans to esoteric industries, specialty asset-based loans, liquidity solutions and growth and technology finance. Chicago Atlantic has closed over
About Vireo
Vireo was founded as a pioneer in medical cannabis in 2014 and sustained with an entrepreneurial drive that fuels its ongoing commitment to serve and delight its key stakeholders, most notably its customers, its employees, its shareholders, its industry collaborators, and the communities in which they live and operate. Vireo works every day to get better and its team prioritizes 1) empowering and supporting strong local market leaders and 2) strategic, prudent capital and human resource allocation. For more information, please visit vireogrowth.com.
About Lineage Merchant Partners
Lineage Merchant Partners is a unique investment banking advisor singularly serving the cannabis industry since its founding in 2021. The firm’s focus is providing M&A, capital raising, and strategic advisory services with an understanding of each client’s critical needs, bespoke positioning to the market for each engagement, and the development of long-term relationships. Our leadership team has a strong track record of strategic dealmaking experience across the cannabis industry in both an advisory and principal capacity. www.lineagemerchantpartners.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20241218764410/en/
Alise M. Edgcomb
Managing Director, Public Relations
(419) 202 – 3988
aedgcomb@chicagoatlantic.com
Source: Chicago Atlantic and Lineage Merchant Partners and Vireo